MAITLAND, Fla. -- The Orange County School Board says a Maitland charter school had better clean up its act or face closure.

Channel 9 first reported the suspicions of parents at Summit Charter School last year. Now, an audit has shown administrators spent nearly $500,000 on their salaries alone, and racked up thousands of dollars on credit cards.

"You divert money and it's one less thing you can do for kids," said Frank Kruppenbacher of the Orange County Public Schools.

The school is $2.7 million in debt. It educates more than 300 learning disabled students.